The Australian Prudential Regulation Authority (APRA) has disqualified former HIH COO Dominic Fodera from acting as a director or senior manager of a general insurer.

Mr Fodera held various senior positions at HIH from 1995 to March 2001, including Group CFO, Finance Director and COO.

APRA found that during the period 1998 to 2000 there were a number of instances where Mr Fodera failed to disclose to HIH’s board and auditors material information and advice.

The regulator says Mr Fodera “knowingly failed” to adequately report to the board information that affected the financial condition and solvency of the company.